Fyre Festival founder Billy McFarland, who served nearly four years in prison for fraud and lying to the FBI, is facing a new civil lawsuit from an investor of his business PYRT, demanding repayment of a $740,000 loan.
Jonathan Taylor, who met McFarland while they were both in jail, claims he struck an agreement with McFarland and his business partner Michael Falb (also named as a defendant) in which they allegedly offered him one-third equity in PYRT Technologies, in exchange for a $740,000 investment.
Taylor claims McFarland and Falb are refusing to grant him the equity they promised or return the money. The summons states that McFarland must appear in court and agree to replay Taylor or face legal action for fraud, conversion, civil conspiracy, breach of contract and unjust enrichment.
The first round of 100 tickets for the sequel to McFarland famously botched Fyre Festival in 2017, which saw its promoter Billy McFarland receive a six-year prison sentence, recently sold out.